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Energy Summary for Jan. 13, 2022

2022-01-13 20:46 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost 52 cents to $82.12 on the New York Merc, while Brent for March lost 20 cents to $84.47 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.46 to WTI, down from a discount of $12.39. Natural gas for February lost 59 cents to $4.27. The TSX energy index lost 1.05 points to close at 184.99.

With oil prices hovering near multiyear highs, some companies are putting out feelers to gauge interest in previously unloved assets. Oil sands giant Imperial Oil Ltd. (IMO) added 38 cents to $49.81 on 1.83 million shares, after announcing that it is marketing its 50-per-cent interest in XTO Energy Canada. XTO produces over 32,000 barrels a day from unconventional plays such as the Montney and Duvernay. Imperial, which took a $1.17-billion impairment charge on its unconventional assets (including XTO) during 2020, is looking to shake them off and focus on the oil sands.

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